Business News Desk – There are many currency investment schemes available in the market these days. But many investors prefer safe investment schemes, which have less risk of money laundering. If you are also looking for a low-risk investment option, then Post Office Recurring Deposit i.e. RD Scheme is the best option for you. You will also get good returns from this scheme. If you want to earn good income by investing in small savings scheme, then you can deposit money regularly in the RD scheme of the post office. In this you have to invest monthly. Under this scheme, attractive interest of up to 6.70% is available on the deposited amount.
After maturity, you get excellent returns on your investment. If you invest properly in RD scheme, you can become a millionaire in five years. The lock-in period of the scheme is five years. This means that you will have to invest every month for five consecutive years and you will not be able to withdraw money for five years. You will get good benefits. Let us know about this scheme. To open an account in the RD scheme, a minimum investment of Rs 500 has to be made. There is no maximum limit for investment in this scheme.
You can deposit money in this scheme in the range of Rs 100. Suppose you deposit Rs 3,700 every month in the RD scheme for five years, that is, the investment in five years is around Rs 2.22 lakh, then you will get 6.7 percent interest on this amount i.e. Rs 42,051. So after five years, including the total invested amount and interest, you will get Rs 2 lakh 64 thousand 51. Interestingly, you will get tax exemption under Section 80C on investments made in RD scheme.
This means that the interest received on your investment will not be taxed. If you are investing in the RD scheme of the post office, and you suddenly need money, then in such a situation you can take 50 percent of the deposited amount as loan. Also, if you want to close the account within a few days of starting to invest in the RD scheme, then the post office also gives you the facility to close the pre-mature account.
To open a Post Office RD Yojana account, you will have to go to your nearest post office. The account of this scheme can also be opened in the name of minors. But an account in the name of a minor can be opened only by the legal parents and guardians of the child. Apart from opening a personal account, three people can also open a joint account. If you are also looking for a safe plan to invest money, then Post Office RD plan is the best option for you.